I've had HI6's (the company's jurassic-age way of communicating to individual pilots) in most of the last several months saying they are 'invoking' their right to offer premium pay for the next few days (I'm MIA 76 I). I've never flown it, though I have been called (once) by CS and had them beg me to fly on my days off. I chuckled when I listened to the message, and continued sipping my beer.
You should NOT be fixated on premium pay. It is NOT a way to supplement your income. It's more of a way to be identified as a colossal douche.
I was hired 13 years ago; I am currently on the ragged edge of holding a line, so it sounds like I'm a little senior to you, 7576FO... it's odd to remember that 13 years ago I was in a newhire class listening to Kudwa tell us we were going to be captains in 5 or 6 years. Instead I was furloughed for over 3 years (we have guys who've been furloughed for 11 now). I'm reserve about 2/3 of the time.
That said, those numbers will not apply to newhires in 2013. If you are lucky enough to be hired at the beginning of what is looking like the next wave, you will probably be the 'golden boy' with the golden career, at least to those who get hired 2 or 3 years after you. It took some of us *years* to get back to the base we wanted, eg DFW or LAX or ORD. For some others of us, it will never happen (eg I was based in SFO prior to furlough, and obviously don't plan on making it back).
I commuted to MIA to sit reserve up until 2 years ago, and it SUCKED. I'm amazed I'm still married.
My core advice to anyone who gets on with us: move to a domicile, specifically one you feel you'll be able to hold for the foreseeable future. I don't have a crystal ball--I certainly wouldn't have been an airline pilot if I did--but at AA, this right now means MIA or LGA, with DFW as the darkhorse.
Sitting Reserve in your own home, with your kids running around and the dog wandering over for pets from time to time, cannot be compared to sitting in a crashpad with 3 or 7 other poor bastards ticking off the time until they can go back home. Every time I get off the plane and go to my car and drive home (instead of walking to the crackhouses outside the employee parking lot to sit in my pad) I have a little thrill of relief.